News
54gene Launches Diagnostic Arm 7RiverLabs to Boost Patient Health Outcomes

54gene, the health technology company advancing African genomics research for improved global health outcomes, has announced the launch of its diagnostic arm; 7RiverLabs.
The diagnostic hubs fitted with state-of-the-art technology will offer healthcare providers and patients access to world-class, cost-effective, speedy, reliable and advanced molecular diagnostics.
Sample collection centres with over 100 employees are already open in Lagos, Abuja, Kano and Port Harcourt, with more centres due to launch in 10 major Nigerian cities in the coming months. Pan-African expansion for 7RiverLabs is also planned over the course of 2022.
Since its launch in 2019, 54gene has driven genomics and molecular medicine throughout Africa. Formerly known as DiagnoseMe Africa, 7RiverLabs (named after the 7 major rivers on the continent), is designed to equalise precision medicine for African populations.
Building on that vision, 54gene has domesticated diagnostic technology; eliminating the need for samples to be sent abroad for analysis, at a considerable cost to the patient.
Physicians will now be able to detect and prevent diseases earlier, thereby helping to improve patients’ treatment outcomes and quality of health.
As part of its mission to establish itself as a principal provider of diagnostic care driven by ultra-modern technology, 54gene has appointed its Chief Business Officer, Jude Uzonwanne as the diagnostic arm’s interim-CEO.
Through the use of state-of-the-art laboratories and marked workflow improvements, over 300 critical molecular tests can now be performed safely and securely – covering oncology, infectious diseases, genetic testing and sequencing, anatomic pathology, clinical chemistry, microbiology, haematology as well as communicable and non-communicable diseases.
With some tests costing as little as a few thousand Naira – generally more affordable than the prevailing market rates – results, depending on the complexity, are provided in as little time as a few hours to a few days and are sent digitally to patients’ physicians for follow-up.
On the launch of 7RiverLabs, Dr. Abasi Ene-Obong, 54gene Founder and CEO commented, “Launching 7RiverLabs is a manifestation of one of the goals 54gene set out to achieve two years ago – to improve diagnostic and treatment outcomes on the continent. With the range of tests 7RiverLabs offers, millions of Africans can begin to take greater control of their health.
“Our goal with this new diagnostics arm is to ensure that every African has access to our hubs offering advanced laboratory tests without having to pay an exorbitant out-of-pocket fee.
“Patients will receive speedy results that will guide their physicians in reducing late diagnoses leading to poor chances of survival, improve their treatment options and ultimately their quality of life.”
Jude Uzonwanne commented, “7RiverLabs is complementing Government and industry efforts to attain the Nigerian Ministry of Health’s mandate towards improved care for the general population.
Hundreds of molecular tests will be made available for millions of people at a fraction of the cost of transporting samples overseas thereby helping to increase early disease-detection and screening rates and save lives.
This is groundbreaking news for Nigeria; and as we forge trusted partnerships with leading health insurers, hospitals and healthcare professionals, we anticipate that hundreds more jobs will be created in our expansion of services across Africa”.
As of 2021, the addressable market for medical tests in Sub-Saharan Africa is currently worth US$10 billion.
At present, the majority of molecular tests are sent outside of the continent; investment in this sector will see the market witness an expected average rate of more than 4% growth per annum.
This will be directly linked to affordability, accurate diagnoses and lighting quick turnaround times – all of which 7RiverLabs is positioned to deliver not only in Nigeria, but across the continent.
News
SEC Urges State Governments to Explore Investment Opportunities in Capital Market

As part of strategies to harness the potentials inherent within the various states for wealth creation, the Securities and Exchange Commission (SEC) is to embark on investor education for state governments across the country.
Dr. Emomotimi Agama, the Director General of SEC, disclosed this during a meeting with a team from the World Bank Group and the International Finance Corporation (IFC) in Abuja.
He stated that the Commission would approach the state governments to help them understand the many opportunities in the capital market, and strive to enhance their understanding of financial markets, investment strategies, and regulatory frameworks.
According to him, “Imagine setting up factories that will produce goods that can be exported and earning foreign exchange. A lot of Nigerians would be employed and that would lead to wealth creation and economic development.
“That is why the Commission will continue to emphasize education, because if they do not know, there is little they can do until they know. Sometimes it is not because they don’t want to do it, it is just because they don’t know and it is our responsibility to give this vital knowledge for wealth creation.There are some states in the country that are so rich but nothing is happening there. All of their wealth is in the ground.”
He added that the strategic approach will commence soon with the Executive Council of a state in northern Nigeria, to speak to them about the opportunities in the capital market.
“We will create guides, reports, and policy briefs that explain capital market opportunities for state governments, we will translate complex financial concepts into simple, actionable insights and we will use case studies from Nigerian states that have successfully raised capital through bonds or attracted investments in the capital market.
“We believe strongly that if we go out and speak to these people, get them into understanding exactly the benefits and how it is important, get them to manage their own assets meaningfully well, and harness them for greater economic growth for the states, things will begin to change, it is our responsibility to change the narratives and we will keep at it,” he said.
Speaking earlier, Mr. Tom Ceusters, Director, Treasury Market Operation IFC, said the delegation of the World Bank Group and IFC were on a two weeks mission to Nigeria to have deep conversations with regulators and organisations in the financial sector with a view to coming up with plans to help their endeavours.
News
Meta to Begin Layoffs Across All Operations from Today

Meta Platforms, the parent company of Facebook, Instagram, and WhatsApp, is set to implement company-wide layoffs starting Monday, February 10, 2025.
Notifications will begin at 5 a.m. local time in most countries, including the United States.
However, due to local regulations, employees in Germany, France, Italy, and the Netherlands will be exempt from these cuts.
Staff in over a dozen countries across Europe, Asia, and Africa will receive their notifications between February 11 and February 18.
The layoffs are expected to affect approximately 5% of Meta’s workforce.
They will target the company’s lowest performers in what is termed “performance terminations.”
This move is part of Meta’s broader strategy to streamline operations and focus on key areas of growth.
Concurrently, Meta is expediting the hiring of machine learning engineers and other essential engineering roles.
The hiring process is scheduled to take place between February 11 and March 13, aligning with Meta’s strategic priorities for 2025.
Unlike previous company-wide layoffs, Meta plans to keep its offices open on Monday and will not issue any additional updates regarding the decisions.
The company has declined to comment further on the internal memos detailing these plans
News
NEMSA, NAICOM Sign Agreement to Boost Electrical Safety, Insurance

The Nigerian Electricity Management Services Agency has signed a Memorandum of Understanding with the National Insurance Commission to enhance electrical safety compliance in residential, commercial, and industrial buildings, as well as ensure adherence to insurance policy requirements for these structures.
A statement issued by Ama Umoren, NEMSA’s Head of Communications and Protocol Unit, on Sunday in Abuja, stated that the MoU establishes a collaborative framework between NEMSA and NAICOM to ensure that as a pre-condition, all electrical installations in residential, commercial, industrial premises, hazardous locations, industries and factories are duly certified by NEMSA before the Insurance Policy is processed by all Insurance Companies.
It stated further that the partnership between NEMSA and NAICOM aligned with the Federal Government’s commitment to strengthening the reliability and safety of Nigeria’s electricity sector.
The NEMSA’s Managing Director/Chief Executive Officer, Engr. Aliyu Tukur Tahir, while speaking during the signing ceremony, emphasised the importance of this collaboration in mitigating risks associated with electrical accidents and infrastructure failures.
“This partnership with NAICOM is a significant step towards ensuring that all electricity consumers, operators, and investors adhere to the highest safety and risk management standards.
”By integrating insurance compliance into electrical safety enforcement, we are safeguarding lives, investments, and the overall integrity of the power sector,” he stated.
Tukur, who is also the Chief Electrical Inspector of the Federation, said going forward, ‘’It will also be a requirement by NEMSA that all Facility Applicants of its statutory inspection, testing and certification, should ensure that their Facilities are insured with Insurance Companies, for safety and mitigation of risk.”
On his part, the Commissioner for Insurance and Chief Executive Officer of NAICOM, Mr Olusegun Omosehin, reiterated NAICOM’s commitment to ensuring that all power sector players embrace insurance as a critical risk management tool.
“Insurance plays a crucial role in cushioning the effects of electrical hazards and infrastructure-related incidents. Through this MoU, we will work closely with NEMSA to enforce compliance with relevant insurance policies, ensuring that the power sector operates with adequate risk mitigation mechanisms in place,” he said.
The collaboration will involve joint awareness campaigns, regulatory enforcement, and information-sharing initiatives to promote electrical safety and insurance adoption across the power sector.
This strategic partnership marks a milestone in the drive to enhance safety, reliability, and sustainability within Nigeria’s electricity industry and the country at large.
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